July 9, 2016 ^.^
Another pair of functions that has very similar meaning literally. Although I am not able to tell you the differences between “replace” and “substitute” in English, I can show you the differences of the REPLACE and SUBSTITUTE in Excel. Are you ready?
Let’s start with the function. Both functions, as you may guess, look into a text string, then based on your instruction, replace part(s) of a string with any text(s)/character(s) specified.
REPLACE requires you to specify a staring position and length of character you want to replace with something
SUBSTITUTE looks for specific texts/characters and then substitute it with something. Sound like FIND? If you don’t know FIND, take a look at FIND vs. SEARCH.
The syntax
REPLACE(old_text, start_num, num_chars, new_text)
All arguments are required.

In the first example, it tells Excel to look into A1, i.e. “ABCDEabcdeABCDE”, starts with the 5th character for a length of 1, i.e. “E”, then replace that portion with “_”.
In the second example, the only difference is the third argument num_chars, which is 3. That means 3 characters starting from the 5th position, i.e. “Eab” in “ABCDEabcdeABCDE”; then replace it with “_”.
Make sense?
Tips:
The syntax
SUBSTITUTE(text, old_text, new_text, [instance_num])
Comparing to REPLACE, SUBSTITUTE is more simple and intuitive, if you have a specific text in mind… 🙂

In the first example, it looks into the text is A1, look for all “E” (as the last argument is omitted) and then replace with “_”.
Note: SUBSTITUTE is case-sensitive. If you need to perform case-insensitive SUBSTITUTE, you need to do it together with either LOWER or UPPER…… But this is not a perfect solution.
Do you have a suggestion? Try to figure it out and post it in comment. In case no answer is posted in comment, I will tell next week. 🙂
By the way, is “replace with” the same as “substitute to”??
Posted by MF
Categories: Formula
Tags: REPLACE, SUBSTITUTE
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By Arun on May 5, 2017 at ^.^
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By MF on May 5, 2017 at ^.^